Rocket Companies (NYSE:RKT) Stock Price Down 3.5%

Rocket Companies, Inc. (NYSE:RKT) shares traded down 3.5% during trading on Thursday . The stock traded as low as $19.70 and last traded at $19.71. 752,083 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 2,733,231 shares. The stock had previously closed at $20.42.

Wall Street Analyst Weigh In

RKT has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research report on Monday, September 16th. Bank of America upped their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price target on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 11th. Finally, Barclays upped their price objective on shares of Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.73.

Rocket Companies Price Performance

The stock has a 50-day simple moving average of $18.10 and a 200 day simple moving average of $15.08. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. The company has a market cap of $37.48 billion, a PE ratio of 171.36 and a beta of 2.45.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted ($0.05) EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Rocket Companies, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of RKT. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock valued at $10,382,000 after purchasing an additional 35,470 shares during the period. Principal Securities Inc. acquired a new stake in shares of Rocket Companies in the fourth quarter valued at $26,000. Vanguard Personalized Indexing Management LLC grew its stake in Rocket Companies by 27.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,226 shares of the company’s stock worth $235,000 after purchasing an additional 3,533 shares in the last quarter. HCR Wealth Advisors increased its holdings in Rocket Companies by 9.2% during the 4th quarter. HCR Wealth Advisors now owns 76,295 shares of the company’s stock worth $1,105,000 after purchasing an additional 6,423 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Rocket Companies during the 4th quarter worth about $1,852,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.